ANZ's first monthly interest rate review

In December the ANZ came out and stated that they will not be following the RBA on interest rates. Instead, they will internally review their rates on the second Friday of every month (I'm paraphrasing a bit here). Whilst other lenders didn't make similar statements, they did echo the sentiment that regardless of what the RBA does, they may not be in a position to pass further rate cuts onto consumers.

Being Friday the 13th, it's the first time they're making their review since announcing this policy.

Happy to say, that home loans and commercial loans are unchanged this month.


There has been a big push over the last year in the ANZ to be rate compeditive. I expect going forward they'll continue this, but this policy does give them scope to do their own thing. I expect a lot of what they'll be doing is to let other lenders make their decisions on the first Tuesday, then announce what they're doing a week or two later.

Whilst this could make it confusing to borrowers who are simply trying to pick the best rate, it does give the ANZ a lot of flexibility in the future.
 
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